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Bulgari loses some luster

May 16, 2008

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For the first quarter, Italian jeweler Bulgari reported an increase in sales to $358.3 million—a figure which fell short of analysts’ expectations of $365.7 million, Forbes.com reported.

The brand suffered weak performance during the month of March, slow sales in key markets of the U.S. and Japan, and declining sales in Italy. However, the weak markets were offset by double-digit sales growth in the Middle East, the rest of Europe and the rest of Asia.

Chief Executive Francesco Trapani said barring "further deterioration of the economic environment," he expects an 8 to 12 percent increase in sales, operating profit and net profit during 2008.
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